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The housing market crash, I believe was a lost opportunity. When the US government had to bail out banks, why did it not ask for those houses that went belly up. Could have started a social housing aid, here it could sell luxury homes to buy low cost housing to give to its most vulnerable citizens. It paid for those houses using people's tax dollars, why not use it for the benefit of the people
because that's socialism.
the concept of federal public housing was basically made illegal in the 90s by the welfare reform acts.
the federal government can't do this by law. legally it is not allowed to increase the number of public housing units beyond those that existed in 1998. it's called the Faircloth amendement.
Bailing out companies is also not capitalism, ideally should have left them then to go bankrupt
yeah but it's legal.
Like then at least their assets would have been sold to cover their losses. This way your government is not socialism but it is choosing who are the winners, since they cannot lose
Because Republicans were in charge when the bank bailout happened. At least the automaker one under Obama had them pay it back with interest.
We can be real and admit that democrats also don't have an appetite for government housing like that. They had the chance to hold bankers to account for the massive fuck up and decided to not to.